Polymarket intends to challenge France's decision to block its website

July 22 (Reuters) - ‌Polymarket intends ​to ​challenge France's decision to block its website in the country, ‌the prediction markets platform said in ⁠a statement on Wednesday.

France's National Gambling ‌Authority had blocked access ‌to the website last week, citing concerns it could expose users to ​significant gambling losses and that some wagers offered on the ⁠platform could be manipulated.

"We are disappointed by the French ​gaming authority's (ANJ's) sudden decision to unilaterally block our website -- we intend ​to challenge this ‌decision through the legal process in France," Polymarket said in ⁠a statement.

Regulators are increasingly seeking tighter oversight of prediction markets, which allow ⁠users to place bets on real-world events, and ​have exploded in popularity.

In May, the Spanish government temporarily banned Polymarket and its peer ‌Kalshi from operating in the country, while in June, the ‌top U.S. derivatives regulator released ⁠new draft regulations ‌for the prediction ​markets industry.

(Reporting by Utkarsh Shetti in Bengaluru; Editing by Vijay ‌Kishore)

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